News Well its about time we have got some news. I see TVI has hired a few more geologists for the work in China, this sounds very promising. Also in talks with one major company to explore with.
TVI's board of directors has approved a 2005 exploration budget that contemplates significant increases in spending over that in 2004. The 2005 exploration budget reflects TVI's desire to accelerate exploration programs in both China and the Philippines. In China, HPGEI has enlarged its exploration team and added further depth to its pool of exploration talent. TVI has recently hired three additional expatriate exploration geologists, each with at least ten years experience, predominantly with major exploration and mining corporations, including Newmont, Normandy, Anglo American and Phelps Dodge. The Company's expatriate exploration personnel are being supported by national geologists, and all report to the newly-hired HPGEI President who is a Mandarin-speaking Australian geologist with twenty years experience in China, including employment in Beijing as country manager for a major international gold mining company. The Company now has a total of nine geologists working full-time in China, and has recently advertised for additional exploration staff in the Philippines.
Due Diligence Currently Being Conducted on Seventeen Properties in the Golden Triangle
HPGEI commenced reviewing properties in this highly prospective metallogenic province in the third quarter of 2004. Due diligence is progressing on seventeen properties that have been offered to HPGEI. Letters of Intent have been signed on nine of these, and a period of evaluation exclusivity has been granted on eight others through mid-April 2005. During 2005, HPGEI will focus on building a portfolio of high quality exploration properties. HPGEI intends to maximize its competitive advantage by independently filing on new tracts of land, and plans to explore its portfolio of Golden Triangle properties in a strategic alliance with a major mining corporation. Initial discussions with such a potential strategic partner are currently underway.
I think 2005 looks like it still might be a very good year for TVI IMO
Cheers Oncourse